
China Tech Boom Fuels August Factory Output as Domestic Spending Stalls
A worsening property market downturn and investment slump reinforced concerns over economic imbalances in the world’s second-largest economy.
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A worsening property market downturn and investment slump reinforced concerns over economic imbalances in the world’s second-largest economy.

Persistent cost of living pressures led households to curb discretionary purchases, catching shopping mall and high street operators off guard.

The country’s annual trade surplus topped $800 billion as Beijing policymakers face mounting pressure to deliver new economic stimulus.

Urban migrant households save 54 per cent of their income on average compared with 36 per cent for registered residents, according to HSBC.

Singapore retail sales excluding motor vehicles reached SG$3.7 billion in July as sporting goods and jewellery offset drops in grocery and department stores.

Department store revenue climbed 4.3 per cent even as nationwide apparel sales dropped 6.6 per cent during the month.

The sharper-than-expected decline marks eight straight months of contraction as households cut back on food and transport.

Online shopping reached HK$2.8 billion during the month as jewellery and watch sales led gains across the territory.

Foldable handset shipments hit 190,000 units in the first quarter of 2026, posting triple-digit annual growth despite a flat broader market.

Private-label brand Transform-U surged to eight per cent of total sales as the personal grooming specialist expanded its store footprint to 127 locations.

Electric vehicle maker BYD and luxury jeweller Laopu Gold lead a lineup of roughly 370 regional index members reporting financial results this week.

E-commerce accounted for 60.8 percent of total retail revenue as department store turnover surged nearly 18 percent.

Asian equities saw mixed results as concerns over the US economy overshadowed earlier hopes for stable interest rates. Weak retail sales and consumer sentiment in the US are now shifting investor focus to upcoming earnings from major retailers.

Concerns over job security and diminished purchasing power are negatively affecting consumer confidence in Indonesia, with a notable drop in the retail sales index in June. However, Bank Indonesia anticipates a recovery in the coming month.

In June, Hong Kong experienced an increase in retail sales, albeit at a slower pace than the previous month of May. The total retail sales for the special administrative region came in at HK$30.1 billion (US$3.8 billion), marking a 0.7 per cent year-on-year…

South Korea’s retail sector demonstrated remarkable resilience in May 2025, achieving a 7% year-on-year growth, spurred primarily by an ongoing boom in online sales. Data from the Ministry of Trade, Industry and Energy (MOTIE) revealed that this robust…
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